Luxury items to cost more

Hike in basic customs duty and excise duty is likely to make several luxury items, from premium segment cars to cosmetics, costlier.

Hike in basic customs duty and excise duty is likely to make several luxury items, from premium segment cars to cosmetics, costlier.

An increase in basic customs duty from 60% to 75% on completely built units (CBUs) of large cars, multi-utility vehicles (MUVs) and sports utility vehicles (SUVs) permitted for import to make premium segment cars costlier.

Similarly increase in basic customs duty from 2% to 4% on gold, platinum and increase in excise duty on gold jewellery will make gold and platinum jewellery expensive.